Branch Notice Saver
This account can only be opened & operated via one of our branches.
An account worth noticing!
Branch Notice Saver is a limited issue account offering you face to face service with a traditional passbook. With an initial investment of £1,000, this account allows you to save without the daily temptation of spending your hard earned savings whilst allowing access when you need it providing you give 80 days notice. Our Branch Notice Saver account offers a variable interest rate, backed up with a minimum interest rate guarantee, for the first two years.
What interest rate will I receive?
For balances of £1,000 and above, the following variable interest rates apply.
Rates effective at 1 May 2008.
| Balance | Gross P.A.* | Net P.A.* | AER** |
|---|---|---|---|
| Year 1 Annual Interest Rates | |||
| £1,000 - £1,000,000 | 5.50% | 4.40% | 5.50% |
| Year 1 Monthly Interest Rates | |||
| £1,000 - £1,000,000 | 5.30% | 4.24% | 5.43% |
| Year 2 Annual Interest Rates | |||
| £1,000 - £1,000,000 | 5.00% | 4.00% | 5.00% |
| Year 2 Monthly Interest Rates | |||
| £1,000 - £1,000,000 | 4.80% | 3.84% | 4.91% |
Annual rates in the first year are guaranteed to pay at least the Bank of England base rate plus 0.25%. Monthly rates paid in the first year are guaranteed to pay at least the Bank of England base rate plus 0.05%. Annual rates in the second year will track the Bank of England base rate. Monthly rates paid in the second year are guaranteed to track the Bank of England base rate less 0.20%. This is a variable rate and can go down as well as up. Rates paid in year three onwards are variable and are not linked to the Bank of England base rate. Rates from the date of account opening are variable and the gross monthly rates do not normally compound to the full annual rates shown. |
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Is my interest rate guaranteed?
The interest rates are variable. Annual rates paid in the first year are guaranteed to be at least the Bank of England base rate plus 0.25% and monthly rates are guaranteed to be at least the Bank of England base rate plus 0.05%, whilst you comply with the account terms and conditions. In the second year the annual rate is guaranteed to track the Bank of England base rate and monthly rate is guaranteed to track the Bank of England base rate less 0.20%. From the third year onwards all rates paid are variable and are not linked to the Bank of England base rate.
How much can I invest?
You can open a Branch Notice Saver account with a minimum of £1,000 by cheque, debit card or cash, and can invest up to a maximum of £1,000,000.
Can I add to my account?
Yes, you can add to your account with additional deposits of any value, up to the maximum balance. Deposits can be made to your account by cheque, bank transfer, cash or debit card. The maximum amount that you can invest in any one Branch Notice Saver account is £1,000,000. Your total savings with the Society must not amount to any more than £1,250,000.
Can I make withdrawals?
If you give 80 days notice of your intention to withdraw your money, you can have penalty free access to it. You can, however, have access to some or all of your money at any time. If you need immediate access to your savings, you can do so with the loss of just 80 days gross interest on the amount withdrawn.
Can I have more than one Branch Notice Saver account?
There is no limit to the number of Branch Notice Saver accounts that you can have. This is of course subject to the account being available at the time of application.
Related terms & conditions
Please ensure you have read all the above terms & conditions, as well as all terms and conditions contained within the terms and conditions section.
How can I apply for an account?
- Please ensure you have read and understood all of the above terms & conditions.
- The please call in to your nearest branch.
- Branch Notice Saver is only available through the Society's branches and may be withdrawn at any time without notice.
* The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The net rate is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate (the net figures quoted assume liability at a tax level of 20% for illustrative purposes only).
** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Please note that the account specific Terms and Conditions may preclude you from earning these rates.